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Level term life insurance

level term life insurance quotes A common form of life insurance coverage is "level term life insurance". With level term insurance, the premium is guaranteed to be the same for a given period of years. The common terms are 10 years, 15 years, 20 years, and 30 years. The longer the guaranteed level term period, the higher the premium. You are locking in a rate and must pay for the length of the lock in.

The insurance premium paid each year is the same for the duration of the policy (contract). The cost is based on the summed cost of each year's annual renewable term rates. A major factor in the premium calculation is the time value of money and is adjusted by the insurer. The longer term the premium is level for, the higher your cost.

It is more expensive to purchase life insurance the older you get. If you select a level term insurance period that is longer, the higher cost years are averaged into the level premium.

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Find out if a level term insurance policy is right for you. The following would make a level term policy ideal for you:

  1. You operate with a fixed monthly budget
  2. You want to ensure your premium amount for a specified period of time

Speak with an agent today. Simply fill out the Level Term Life Insurance Quote form to compare rates from the top insurance companies.